Scissortail Wealth Management LLC Makes New Investment in Abbott Laboratories (NYSE:ABT)

Scissortail Wealth Management LLC purchased a new position in Abbott Laboratories (NYSE:ABT) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 15,674 shares of the healthcare product maker’s stock, valued at approximately $1,778,000.

Other hedge funds have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new stake in Abbott Laboratories in the 4th quarter worth $28,000. Cornerstone Planning Group LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter worth about $28,000. FWL Investment Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $33,000. True Wealth Design LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $33,000. Finally, Quarry LP increased its holdings in shares of Abbott Laboratories by 132.9% in the 2nd quarter. Quarry LP now owns 333 shares of the healthcare product maker’s stock worth $36,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The disclosure for this sale can be found here. Insiders have sold 56,435 shares of company stock worth $6,451,298 in the last three months. Corporate insiders own 0.47% of the company’s stock.

Abbott Laboratories Trading Up 0.3 %

ABT stock traded up $0.31 during mid-day trading on Tuesday, reaching $109.20. The company had a trading volume of 7,279,806 shares, compared to its average volume of 5,590,588. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.64 and a quick ratio of 1.16. The company has a market capitalization of $189.48 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.63 and a beta of 0.74. The firm has a 50 day moving average of $114.67 and a 200 day moving average of $107.51. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 24th. The healthcare product maker reported $1.19 EPS for the quarter, hitting analysts’ consensus estimates of $1.19. The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $10.19 billion. Abbott Laboratories had a net margin of 14.27% and a return on equity of 20.65%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. On average, equities analysts predict that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 dividend on an annualized basis and a yield of 2.01%. Abbott Laboratories’s dividend payout ratio is currently 67.48%.

Wall Street Analyst Weigh In

ABT has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and issued a $128.00 target price on shares of Abbott Laboratories in a report on Wednesday, February 14th. TheStreet upgraded shares of Abbott Laboratories from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Raymond James boosted their target price on shares of Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Evercore ISI boosted their target price on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Barclays upped their price target on shares of Abbott Laboratories from $133.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $122.14.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.